1543 results returned for search: "" category "Business" author David Fox, Business Editor
A Bermuda bank has challenged the Standard & Poor’s Rating Services decision to lower Bermuda’s Banking Industry Country Risk Assessment (BICRA) score Butterfield Bank last night expressed optimism in the Bermuda economy and said S&P erred in its for...
DATE: Jul 03, 2014
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CATEGORY:
Local Business
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AUTHOR:
David Fox, Business Editor
A rating agency brought the hammer down on Bermuda’s banking sector yesterday with a bad report card citing projected credit losses of more than a billion dollars, for a period not ending for another two years.
Standard & Poor’s took various ratings ...
DATE: Jul 02, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
Butterfield Bank yesterday confirmed that it is absorbing a portion of a 0.6 percent charge applied by credit card companies for cross-border transactions.
First notice of this was a message on credit card statements Butterfield customers received th...
DATE: Jul 02, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
The Foreign Account Tax Compliance Act (Fatca) comes into effect in Bermuda today, amid continuing confusion and concern for its long ranging impact.
But one local financial institution said it is prepared to go further than Fatca requirements and ca...
DATE: Jul 01, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
Faced with unprecedented structural changes as a result of a flood of capital markets money seeking to cash in on writing reinsurance risks, the global reinsurance industry faces a fight for survival. But one top broker has proposed a shift in thinki...
DATE: Jul 01, 2014
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CATEGORY:
Reinsurance
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AUTHOR:
David Fox, Business Editor
A former insurance boss, who now heads the public-funded agency designed to grow international business, has predicted five more years of soft rates for Bermuda reinsurers.
And Bermuda Business Development Agency chairman David Cash also identified t...
DATE: Jun 30, 2014
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CATEGORY:
Reinsurance
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AUTHOR:
David Fox, Business Editor
Most standard lines of commercial insurance business will eventually be commoditised, a leading underwriter has told delegates at the just concluded Insurance Day Bermuda Summit at the Fairmont Hamilton Princess Hotel.
But Greg Hendrick, chief execut...
DATE: Jun 27, 2014
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CATEGORY:
Other
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AUTHOR:
David Fox, Business Editor
One of the biggest threats Bermuda faces in keeping its international business is US enlightenment to the realisation that it need only change its tax laws to lure many companies home or repatriate corporate profits. And more insurance start-ups coul...
DATE: Jun 26, 2014
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CATEGORY:
Reinsurance
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AUTHOR:
David Fox, Business Editor
Bermuda-headquartered Nephila Capital co-founders Frank Majors and Greg Hagood, along with long-time colleague Barney Schauble, have been named the Aon Benfield Outstanding Contributors of the Year at the 2014 Trading Risk Awards in London.
The tight...
DATE: Jun 25, 2014
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CATEGORY:
Reinsurance
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AUTHOR:
David Fox, Business Editor
Premier Michael Dunkley opened the door for international business leaders to dialogue with Government on a stronger partnership to foster more benefits for both business and the Island.
Opening the Insurance Day Summit at the Fairmont Hamilton Princ...
DATE: Jun 25, 2014
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CATEGORY:
Reinsurance
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AUTHOR:
David Fox, Business Editor
